United States taxpayers who own “specified foreign financial assets” must disclose these assets to the Internal Revenue Service (IRS) annually. This potentially involves two separate filings—IRS Form 8938 and the Report of Foreign Bank and Financial Accounts (FBAR).Read More

Between the lingering economic impacts of the COVID-19 pandemic and the unprecedented inflation we have experienced in 2022, many businesses in Boston are being forced to shut their doors for good. When closing up shop, business owners need to take several steps, and they need to be careful to avoid problems with the Internal Revenue Service (IRS).Read More